Whirlpool Q2 net up three-fold at $205 Million
Wednesday, 21 July 2010, 14:35 IST
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New York: Home appliance maker Whirlpool has reported a three-fold jump in its net profit to $205 million for the three-month period ending June 30, 2010, on account of higher sales in Asia. In the year-ago period, the company had a net profit of $78 million, Whirlpool said in a statement. Net sales rose by 9 percent from the year-ago period to $4.53 billion in the second quarter of 2010. "We made strong progress towards our long-term value creation goals during the second quarter. Global unit volume growth, combined with our ongoing productivity improvement, enabled us to expand our operating margins and accelerate profitable growth," said Whirlpool Corporation chairman and chief executive officer Jeff M Fettig said. In terms of geographical location, Asia was the best performer with sales rising by 43 percent to $263 million.
Source: PTI
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